Writing is an essential part for us in today’s world. People who know how to write well are also aware of how to express themselves better. It is for these people to help people understand what they want to say. If you are a student, writing will help you through your academics. It is why students take help from academic writers all the time. Writing will help with everything from teaching students to making their reports if you are a teacher.
Similarly, writing is important no matter what profession you relate to. There are hundreds of languages that people speak and write around the globe. Each of these languages come from a different origin and have their own structure and syntax.
It is important to understand the regional languages in your area. However, we consider English as an internationally acceptable language. Majority of the countries teach English to their younger generations because it helps people communicate from all over the world.
However, there are a few countries like China that still follow their own language. They use this language for official and non-official matters.
WHAT ARE THE DIFFERENT KINDS OF WRITINGS THAT YOU HAVE TO DO?
It is important to write or, at least know the different kinds of writings that are crucial. Everything from applications to letters and reports has their own vitality.
However, there are tons of other writing formats that you need to know. These formats will help you if you are in an academic or professional environment.
WHAT IS THE MOST COMMON KIND OF WRITING YOU NEED TO KNOW IN PROFESSIONAL SETTING?
There are a lot of things that you need to know if you work professionally. You need to know how to write presentations and reports or business plans if your job description demands it. However, there is another thing that you need to know if you are a professional. It is essential to know how to write an executive summary.
We will explain what an executive summary is before we go ahead with this article. So, let’s do a quick review of the basics of an executive summary.
WHAT IS AN EXECUTIVE SUMMARY?
An executive summary is a shorter version of a business plan or a business proposal. The difference between an executive summary is that it is concise than a complete business plan. There are different ways of writing an executive summary, depending on the kind of business or service you wish to cover.
WHY IS AN EXECUTIVE SUMMARY IMPORTANT?
Investment is one of the most important things about a business. You cannot start or run a business without a suitable investment. You need the investment to expand your business. All this investment comes from the investors. These investors are wealthy business-minded people who are willing to invest their money in promising projects.
However, they have loads of projects to look at and are busy people. Therefore, most of the investors do not have the time or patience to read your whole business plan.
It is where the executive summary comes in. The summary covers all the important parts of the business plan in a much shorter way. It helps the investor study your business plan quickly and decide if they should invest in your business or not.
The executive summary helps save time and effort. Thus it is important to know how to write an impressive executive summary. If you don’t know how to do this, then don’t worry. Our experts will guide you in this article.
HOW TO WRITE AN EXECUTIVE SUMMARY:
It is crucial to follow the pattern and structure while writing and executive summary since it is a formal business document. You cannot make a good impression on the investors or partners if your executive summary is not impressive.
Most people do not know how to write these summaries, but we will explain the structure and tips to write a well- structured executive summary. So, let’s begin!
THINGS YOU SHOULD INCLUDE IN YOUR EXECUTIVE SUMMARY:
The first thing that you should add to your executive summary is the business opportunity. In this section, you will define your business and the demand for what you wish to offer. It is a simple part of the executive summary. It explains your business idea and why it is a good idea to invest in it.
The business opportunity section also analyses the current market situation and calculates the approximate impact of your business to the market. It is the first step, and it is important to write it correctly if you want to make a good impact.
The next thing you want to cover in your executive summary is the targeted audience. Every product or service aims to serve a certain population. For example, makeup is manufactured mostly for women. So it is important to list your potential target market or potential customers.
It will help the investors or the reader understand the demand for what you are about to introduce in your business. It helps bring weightage to your idea and bring a realistic element in it. Knowing your target market will also help you estimate what you need better.
The next thing on our list is the business model. The business models the products or services you wish to provide to your clients. It will also include the extension of these services. It means that you will have to explain what future aspirations and short term goals.
You need to keep in mind that the business model is the heart of the executive summary. Most people decide if they want to be a part of a business set up or not by the end of this part.
MARKETING AND SALES STRATEGY:
Marketing is an essential part of any business. You will not be able to run a business if you do not know how to market it. Marketing has a huge impact on sales and profits, and that’s ultimately what business is all about. Therefore you need to let the investors know your sales strategy.
Make sure to explain all the internal and external sources that will aid your sales and marketing. It will help explain to the investors that you have a concrete plan to spread the word. It is a great way to build trust in the business idea, and all major companies use it.
It is also important to document your competition in business. When we start a business, there is always someone who is doing something similar. You need to make a comparative and rational study of their work and products with yours.
It will help build a clearer image of the efficiency of your products or services. You can compare them with what the market has to offer.
The last and the most important part that you need to cover in your executive summary is financial analysis. It is all about the flow of money between the investment and the profits. You have to add the financial projection for your business plan. It will help the people understand what amount of profits you expect from your business plan.
The projection has to be 6 months and annually based. Dissertation writers explain this financial analysis in detail in various articles and blogs. Make sure to check them out too!